Jakarta (ANTARA News) - State electricity company PT Perusahaan Listrik Negara (PLN) plans to issue sharia bonds (sukuk) worth Rp500 billion as part of its planned Rp1.5 trillion bond issuance this year.
The bonds, to be due in seven years, would be the tenth bonds the company would issue, PLN President Director Fahmi Mochtar said on the sidelines of a national coordination meeting of the Indonesian Chamber of Commerce and Industry (Kadin) on energy and mineral resources here on Tuesday.
PLN has appointed Bank Niaga a trustee agent for the bond issuance with Trimegah and Indopremiere Sekuritas as bond underwriters.
The company originally planned to issue rupiah-denominated bonds worth Rp3 trillion and dollar-denominated bonds worth US$1 billion (about Rp13 trillion) this year.
But because of the worsening financial market, it will only issue local currency bonds worth Rp1.5 trillion this year.
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